The Federal government has committed $4.5 billion to clean energy in the 2009-10 Budget, which it says will cut carbon dioxide emissions and tackle climate change.

The funding will include $2.4 billion in low-emissions coal technologies as well as $1.6 billion to position Australia as a world leader in solar energy technology. The government’s aim is to have 20 percent of Australia’s electricity coming from renewable sources by 2020.

The clean energy initiative will also provide $465 million to establish the Renewables Australia body, to support research into renewable energies.

“The government is also making a substantial investment in developing low-carbon energy technologies, giving investors the confidence required to back low-emissions technologies and industries to assist Australia’s transition to a low-pollution future,” said Climate Change Minister Penny Wong.